Here’s why these 4 shares smashed the market today

Credit: Tim Hamilton

Good afternoon, Foolish readers. The S&P/ASX 200 (INDEXASX: ^AXJO)(ASX: XJO) continued its downward slide today, losing 0.7% to 4,857 points at the time of writing.

These four shares managed to buck the trend however, and all rose significantly. Here’s why:

Woolworths Limited (ASX: WOW) rose 4.3% to $23.64 after it announced its intention to wind up or sell its Masters Hardware business, determining that the company could not continue to sustain the losses until Masters became profitable – which could have been some time away. It’s a rare piece of positive news (if you think selling Masters is a good idea) for Woolworths shareholders lately, although the company continues to face issues on other fronts, namely Big W and in the grocery business.

Metcash Limited (ASX: MTS) shares gained 5.9% to $1.60 today, likely as a result of Woolworths’ announcement – Metcash owns Mitre 10, a competing hardware chain. It’s a rare piece of news that lifts both Metcash’s and Woolworths’ share price, but it remains to be seen how much Mitre 10 will benefit from the reduction in competition. Metcash shares are up 3.5% for the year, and down 62% in the past five years.

Ziptel Ltd (ASX: ZIP) skyrocketed 17% to $0.51 today after the company posted strong subscriber growth in its target markets, hitting 6 million installs in the past 30 weeks. Based on current growth, management expects the company could hit its target 10 million installations some 8 months ahead of schedule. Despite the progress, Ziptel shares are up just 2.3% in the past twelve month, and down more than 50% since highs of above $1.25 reached in September last year.

Reffind Ltd (ASX: RFN) jumped 7% today, also on the back of a positive market update as it announced contracts with big names; Staples, Bupa, Domain (operator of property portal and Sunglass Hut, among others. Reffind has announced a significant number of contracts over the past year, although investors should wait for further data on how much money it’s actually making – as well as customer retention rates – before buying in too heavily.

But wait...there's more!

Our resident dividend expert has just named his Top Dividend Stock for 2016. Not only are the shares dirt cheap, the company is trading on a 5.6% fully franked dividend yield. Simply click on the link and enter your email address to gain access to this comprehensive FREE investment report - no credit card details or payment required!

Yep, it's free, and includes the stock's name and code. Just click here now for your copy.

Motley Fool contributor Sean O'Neill owns shares of Reffind Ltd. Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

HOT OFF THE PRESSES: My #1 Dividend Pick for 2017!

With its shares up 155% in just the last five years, this ‘under the radar’ consumer favourite is both a hot growth stock AND our expert’s #1 dividend pick for 2017. Now we’re pulling back the curtain for you... And all you have to do to discover the name, code and a full analysis is enter your email below!

Simply enter your email now to receive your copy of our brand-new FREE report, “The Motley Fool’s Top Dividend Stock for 2017.”

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.